SB274
Prescription Drug Affordability Board; established, drug cost affordability review, report.
Summary
As Passed House of Origin. Prescription Drug Affordability Board established; drug cost affordability review.
Establishes the Prescription Drug Affordability Board for the purpose of protecting the citizens of the Commonwealth and other stakeholders within the health care system from the high costs of prescription drug products. The bill requires the Board to meet in open session at least four times annually, with certain exceptions ... (More) and requirements enumerated in the bill. Members of the Board are required to disclose any conflicts of interest, as described in the bill. The bill also creates a stakeholder council for the purpose of assisting the Board in making decisions related to drug cost affordability. The bill tasks the Board with identifying prescription, generic, and other drugs, as defined in the bill, that are offered for sale in the Commonwealth and, at the Board's discretion, conducting an affordability review of any prescription drug product. The bill lists factors for the Board to consider that indicate an affordability challenge for the health care system in the Commonwealth or high out-of-pocket costs for patients. The bill also provides that any person aggrieved by a decision of the Board may request an appeal of the Board's decision and that the Attorney General has authority to enforce the provisions of the bill. The bill provides that the Board shall establish no more than 12 upper payment limit amounts annually between January 1, 2025, and January 1, 2028. (Less)-
Bill History
- 01/09/2024 - Senate: Prefiled and ordered printed; offered 01/10/24 24101144D
- 01/09/2024 - Senate: Referred to Committee on Education and Health
- 01/18/2024 - Senate: Rereferred from Education and Health (15-Y 0-N)
- 01/18/2024 - Senate: Rereferred to Commerce and Labor
- 01/31/2024 - Senate: Impact statement from DPB (SB274)
- 02/05/2024 - Senate: Senate committee, floor amendments and substitutes offered
- 02/05/2024 - Senate: Reported from Commerce and Labor with substitute (10-Y 5-N)
- 02/05/2024 - Senate: Committee substitute printed 24106998D-S1
- 02/05/2024 - Senate: Substitute bill reprinted 24106998D-S1
- 02/05/2024 - Senate: Rereferred to Finance and Appropriations
- 02/08/2024 - Senate: Reported from Finance and Appropriations (9-Y 6-N)
- 02/09/2024 - Senate: Constitutional reading dispensed (39-Y 0-N)
- 02/12/2024 - Senate: Read second time
- 02/12/2024 - Senate: Reading of substitute waived
- 02/12/2024 - Senate: Committee substitute agreed to 24106998D-S1
- 02/12/2024 - Senate: Engrossed by Senate - committee substitute SB274S1
- 02/13/2024 - Senate: Read third time and passed Senate (23-Y 16-N) Close Floor Vote
- 02/13/2024 - Senate: Impact statement from DPB (SB274S1)
- 02/15/2024 - House: Placed on Calendar
- 02/15/2024 - House: Read first time
- 02/15/2024 - House: Referred to Committee on Labor and Commerce
- 02/20/2024 - House: Reported from Labor and Commerce (12-Y 10-N)
- 02/22/2024 - House: Read second time
- 02/23/2024 - House: Read third time
- 02/23/2024 - House: Passed House (50-Y 47-N)
- 02/23/2024 - House: VOTE: Passage (50-Y 47-N) Close Floor Vote
- 02/28/2024 - Senate: Enrolled
- 02/28/2024 - Senate: Bill text as passed Senate and House (SB274ER)
- 02/28/2024 - Senate: Impact statement from DPB (SB274ER)
- 02/28/2024 - House: Signed by Speaker
- 03/02/2024 - Senate: Signed by President
- 03/11/2024 - Senate: Enrolled Bill Communicated to Governor on March 11, 2024
- 03/11/2024 - Governor: Governor's Action Deadline 11:59 p.m., April 8, 2024
- 04/08/2024 - Governor: Vetoed by Governor
- 04/17/2024 - Senate: Passed in enrolled form rejected (21-Y 18-N) Close Floor Vote
- 04/17/2024 - Senate: Requires 2/3 members present
